Reinsurance Group of America Inc (RGA) Shares Sold by MML Investors Services LLC

MML Investors Services LLC lowered its holdings in Reinsurance Group of America Inc (NYSE:RGA) by 51.3% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 2,778 shares of the insurance provider’s stock after selling 2,924 shares during the period. MML Investors Services LLC’s holdings in Reinsurance Group of America were worth $402,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in RGA. Robecosam AG purchased a new stake in Reinsurance Group of America in the 2nd quarter worth approximately $133,000. Iberiabank Corp purchased a new stake in Reinsurance Group of America in the 3rd quarter worth approximately $205,000. Fulton Bank N.A. purchased a new stake in Reinsurance Group of America in the 3rd quarter worth approximately $211,000. Raymond James Financial Services Advisors Inc. purchased a new stake in Reinsurance Group of America in the 2nd quarter worth approximately $218,000. Finally, Sawtooth Solutions LLC bought a new position in shares of Reinsurance Group of America in the 2nd quarter worth approximately $306,000. Institutional investors and hedge funds own 92.39% of the company’s stock.

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In related news, President Anna Manning sold 4,034 shares of the firm’s stock in a transaction that occurred on Friday, November 30th. The stock was sold at an average price of $148.23, for a total transaction of $597,959.82. Following the completion of the transaction, the president now owns 20,667 shares of the company’s stock, valued at approximately $3,063,469.41. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Arnoud W.A. Boot sold 620 shares of the firm’s stock in a transaction that occurred on Tuesday, November 6th. The shares were sold at an average price of $146.00, for a total value of $90,520.00. Following the transaction, the director now directly owns 6,409 shares of the company’s stock, valued at approximately $935,714. The disclosure for this sale can be found here. Insiders sold a total of 11,154 shares of company stock valued at $1,656,950 in the last three months. Corporate insiders own 1.47% of the company’s stock.

Shares of NYSE:RGA opened at $143.72 on Friday. Reinsurance Group of America Inc has a 52-week low of $127.84 and a 52-week high of $164.86. The company has a market capitalization of $9.05 billion, a PE ratio of 12.71 and a beta of 0.73. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.12 and a quick ratio of 0.12.

Reinsurance Group of America (NYSE:RGA) last announced its earnings results on Thursday, October 25th. The insurance provider reported $4.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.29 by $0.74. Reinsurance Group of America had a return on equity of 8.26% and a net margin of 14.21%. The firm had revenue of $3.25 billion during the quarter, compared to analyst estimates of $3.20 billion. Equities research analysts forecast that Reinsurance Group of America Inc will post 12.16 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Tuesday, November 27th. Stockholders of record on Tuesday, November 6th were given a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 1.67%. The ex-dividend date of this dividend was Monday, November 5th. Reinsurance Group of America’s dividend payout ratio is currently 22.14%.

Several brokerages have recently issued reports on RGA. Zacks Investment Research raised Reinsurance Group of America from a “hold” rating to a “buy” rating and set a $161.00 target price for the company in a research report on Thursday, October 4th. Credit Suisse Group decreased their target price on Reinsurance Group of America from $155.00 to $144.00 and set a “neutral” rating for the company in a research report on Friday, August 17th. ValuEngine raised Reinsurance Group of America from a “sell” rating to a “hold” rating in a research report on Wednesday, October 31st. Finally, Morgan Stanley increased their target price on Reinsurance Group of America from $131.00 to $134.00 and gave the stock an “underweight” rating in a research report on Tuesday, November 13th. One research analyst has rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $146.00.

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About Reinsurance Group of America

Reinsurance Group of America, Incorporated engages in reinsurance business. It offers individual and group life and health insurance products, including term life, credit life, universal life, whole life, group life and health, joint and last survivor insurance, critical illness, disability, and longevity products, as well as asset-intensive and financial reinsurance products.